Rise in inexperienced mobility, surge in urbanization, local commute requirements, and declining costs of batteries per KWH drive the expansion of the worldwide one wheel electric scooter market. Asia-Pacific is anticipated to register the very best CAGR of 6.6% during the forecast period. However, the demand for one wheel electric scooter has diminished during the Covid-19 pandemic due to restrictions on commute imposed by the government to curb the unfold of infection.
January 18, 2021 09:00 ET | Source: Allied Market Research Allied Market Research Pune, INDIA
Portland, OR, Jan. 18, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global one wheel electric scooter market was pegged at $110.2 million in 2019, electric bike parts and is anticipated to succeed in $146.7 million by 2027, rising at a CAGR of 5.0% from 2020 to 2027.
Increase in green mobility, rise in urbanization, native commute requirements, and declining costs of batteries per KWH have boosted the expansion of the global one wheel electric scooter market. Moreover, excessive portability compared to private electric autos supplemented the market progress. However, security in compare to accessible commuting alternatives and uncomfortable riding expertise due to its design construction hamper the market growth. On the contrary, strong dealership & provider community and continuous product developments are expected to open profitable opportunities for the market players in the future.
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Covid-19 Scenario
— Governments of a number of nations have imposed non permanent lockdown of assorted industries. The extended lockdown negatively affected production and sales actions. Moreover, the provision chain disrupted and led to a shortage of uncooked materials.
— The demand for one wheel scooter motor wheel electric scooter has declined through the Covid-19 pandemic due to restrictions on commute imposed by the federal government to limit the unfold of infection.
— However, the demand is predicted to grow by the first quarter of 2021 resulting from a rise in health issues among end customers, enhance in requirements for personal commute solutions to adjust to social distancing norms.
Get detailed COVID-19 influence evaluation on the One Wheel Electric Scooter Market Request Here!
The worldwide one wheel electric scooter market is segmented on the basis of product kind, utility, gross sales channel, electric bike parts pace restrict, and region. Based on product kind, the electric unicycle section is anticipated to register the very best CAGR of 5.1% during the forecast interval. However, the segment held the largest share in 2019, accounting for nearly 90% of the entire revenue of the market.
On the idea of utility, the off-highway actions section is predicted to register the highest CAGR of 5.5% during the forecast interval. Moreover, the phase held the lion’s share in 2019, contributing to more than two-thirds of the market.
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The worldwide one wheel electric scooter market is analyzed throughout varied regions corresponding to North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is predicted to manifest the best CAGR of 6.6% during the forecast interval. However, the market throughout North America held the largest share in 2019, accounting for multiple-third of the market.
The worldwide one wheel electric scooter market report consists of an in-depth evaluation of the foremost market gamers including INMOTION Technologies Co., Ltd., F-WHEEL, Dongguan Begode Intelligent Technology Co. Ltd., Ninebot Limited, Guangzhou Veteran Intelligent Technology Ltd., King Song Intell Co., Ltd., Future Motion Inc., SWAGTRON, IPS Electric Unicycle, and SuperRide.
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